JPMorgan Chase Financial Co. LLC Files Preliminary Pricing Supplement

TL;DR

**JPM's finance arm just filed a preliminary prospectus for new securities.**

AI Summary

JPMorgan Chase Financial Co. LLC, a subsidiary of JPMorgan Chase & Co., filed a 424B2 prospectus on March 24, 2026, under File No. 333-270004-01. This filing is a preliminary pricing supplement, indicating an upcoming offering of securities. For investors, this means new debt or equity could be issued, potentially impacting the company's capital structure and future earnings, which could affect the stock price.

Why It Matters

This filing signals that JPMorgan Chase Financial Co. LLC is preparing to issue new securities, which could alter its financial leverage or dilute existing shareholders, impacting the parent company's stock value.

Risk Assessment

Risk Level: medium — The filing itself is administrative, but the underlying offering it foreshadows could introduce market risk depending on the terms and size of the securities issued.

Analyst Insight

Investors should monitor subsequent filings from JPMorgan Chase Financial Co. LLC for the definitive terms of the securities offering, as this will provide crucial details on potential dilution or changes to the company's debt structure, which could influence the valuation of JPM shares.

Key Numbers

• 333-270004-01 — File Number (Identifies the specific registration statement for JPMorgan Chase Financial Co. LLC's securities offering.)
• 2026-03-24 — Filing Date (Indicates when the preliminary pricing supplement was officially submitted to the SEC.)
• 88238 — Size of Document 1 (Represents the size in bytes of the preliminary pricing supplement document (ea0283255-01_424b2.htm).)

Key Players & Entities

• JPMorgan Chase Financial Co. LLC (company) — Filer of the 424B2 prospectus
• JPMorgan Chase & Co (company) — Parent company of the filer
• March 24, 2026 (date) — Filing date of the 424B2
• 333-270004-01 (dollar_amount) — File number for JPMorgan Chase Financial Co. LLC's registration statement
• 0001665650 (dollar_amount) — CIK for JPMorgan Chase Financial Co. LLC

Forward-Looking Statements

• JPMorgan Chase Financial Co. LLC will announce the final terms of a new securities offering. (JPMorgan Chase Financial Co. LLC) — high confidence, target: 2026-04-24

FAQ

Key Financial Figures

• $10,000 — f the notes. Minimum denominations of $10,000 and integral multiples of $1,000 in exc
• $1,000 — ns of $10,000 and integral multiples of $1,000 in excess thereof Key Terms Issuer:
• $1,083.60 — ity per $1,000 principal amount note is $1,083.60. *The actual Contingent Digital Return
• $10.00 — t will these selling commissions exceed $10.00 per $1,000 principal amount note. See &
• $985.20 — lue of the notes would be approximately $985.20 per $1,000 principal amount note. The e
• $970.00 — ng supplement and will not be less than $970.00 per $1,000 principal amount note. See &
• $500.00 — estor receives a payment at maturity of $500.00 per $1,000 principal amount note, calcu

Filing Documents

• ea0283255-01_424b2.htm (424B2) — 86KB
• image_001.jpg (GRAPHIC) — 3KB
• image_002.jpg (GRAPHIC) — 47KB
• 0001213900-26-033431.txt ( ) — 158KB

From the Filing

PRICING SUPPLEMENT The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. 2026. Pricing supplement To prospectus dated April 13, 2023, prospectus supplement dated April 13, 2023, product supplement no. 4-I dated April 13, 2023, underlying supplement no. 1-I dated April 13, 2023 and prospectus addendum dated June 3, 2024 Registration Statement Nos. 333-270004 and 333-270004-01 Dated March , 2026 Rule 424(b)(2) JPMorgan Chase Financial Company LLC Structured Investments $ Digital Contingent Buffered Notes Linked to the S&P 500 ® Index due April 8, 2027 Fully and Unconditionally Guaranteed by JPMorgan Chase & Co. General The notes are designed for investors who seek a fixed return of at least 8.36%* if the Ending Index Level of the S&P 500 ® Index is greater than or equal to the Index Strike Level or is less than the Index Strike Level by up to 25.00%. Investors should be willing to forgo interest and dividend payments and, if the Ending Index Level is less than the Index Strike Level by more than 25.00%, be willing to lose some or all of their principal amount at maturity. The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, which we refer to as JPMorgan Financial, the payment on which is fully and unconditionally guaranteed by JPMorgan Chase & Co. Any payment on the notes is subject to the credit risk of JPMorgan Financial, as issuer of the notes, and the credit risk of JPMorgan Chase & Co., as guarantor of the notes. Minimum denominations of $10,000 and integral multiples of $1,000 in excess thereof Key Terms Issuer: JPMorgan Chase Financial Company LLC, a direct, wholly owned finance subsidiary of JPMorgan Chase & Co. Guarantor: JPMorgan Chase & Co. Index: The S&P 500 ® Index (Bloomberg ticker: SPX) Payment at Maturity: If the Ending Index Level is greater than or equal to the Index Strike Level or is less than the Index Strike Level by up to the Contingent Buffer Amount, at maturity you will receive a cash payment that provides you with a return per $1,000 principal amount note equal to the Contingent Digital Return. Accordingly, under these circumstances, your payment at maturity per $1,000 principal amount note will be calculated as follows: $1,000 + ($1,000 × Contingent Digital Return) If the Ending Index Level is less than the Index Strike Level by more than the Contingent Buffer Amount, at maturity you will lose 1% of the principal amount of your notes for every 1% that the Ending Index Level is less than the Index Strike Level. Under these circumstances, your payment at maturity per $1,000 principal amount note will be calculated as follows: $1,000 + ($1,000 × Index Return) If the Ending Index Level is less than the Index Strike Level by more than the Contingent Buffer Amount of 25.00%, you will lose more than 25.00% of your principal amount at maturity and may lose all of your principal amount at maturity. Contingent Digital Return: At least 8.36%*, which reflects the maximum return on the notes. Accordingly, assuming a Contingent Digital Return of 8.36%, the maximum payment at maturity per $1,000 principal amount note is $1,083.60. *The actual Contingent Digital Return will be provided in the pricing supplement and will not be less than 8.36%. Contingent Buffer Amount: 25.00% Index Return: (Ending Index Level – Index Strike Level) Index Strike Level Index Strike Level: The closing level of the Index on the Strike Date. The Index Strike Level is not determined by reference to the closing level of the Index on the Pricing Date. Ending Index Level: The closing level of the Index on the Valuation Date Strike Date: March 23, 2026 Pricing Date: On or about March 24, 2026 Original Issue Date (Settlement Date): On or about March 27, 2026 Valuation Date*: April 5, 2027 Maturity Date*: April 8, 2027 CUSIP: 46660RH56 * Investing in the notes involves a number of risks. See “Risk Factors” beginning on page S-2 of the accompanying prospectus supplement, Annex A to the accompanying prospectus addendum, “Risk Factors” beginning on page PS-11 of the accompanying product supplement and “Selected Risk Considerations” beginning on page PS-5 of this pricing supplement. Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the adequacy of this pricing supplement or the accompanying product supplement, underlying supplement, prospectus supplement, prospectus and prospectus addendum. Any representation to the contrary is a criminal offense. Price to Public (1) Fees and Commissions (2) P

View Full Filing

View this 424B2 filing on SEC EDGAR